- Choose the highest interest rate card or payment to pay down first
- Pay as must as you can to pay off that first debt
- Mark you calendar for the deadline to pay off that debt and stick to it
- On your other cards or debts pay double or at least 1.5 times the minimum monthly payment, until the first debt is paid off
Once the first debt is paid off then just move to the next debt and use the money you would have normally used to pay off the first debt to pay the next one. Then repeat the process until you are credit card free.
Lastly get rid of any credit cards that charge a membership or maintenance fee. They are worthless to have. I have one that will be gone next month. I pay an outrageous monthly fee of $6.00 that would be better spent paying off a medical bill. $6.00 may not seem like much but 6 X 12 is $72 a year that I could save. That same card also has a $48.00 membership fee that I could do without too. A pair of scissors will be introduced to that card very soon.
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